This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate-spending equation that accounts for the effects of the...

This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate-spending equation that accounts for the effects of the...

In recent years, many researchers have focused on the development of new probability distributions. The massive amount of data available in real life encourages the study of models which can provide more flexibility than the classical ones do. In this paper, we tackle the thorny problem related...